S&P Continues to show bearish pressure. Key 1920 line could fail

13 Jan 2016

S&P still showing signs of bearish pressure. We've blasted through the 50/60 ema and are flirting with the 1920 which has been holding since mid 2014. Seeing a nice curve top which could indicate a downward move that may brake this line. Also showing MACD divergence. If this heads down to the 200/250 ema we may be in a full pull-back. Looking at the monthly and yearly charts we can see that we're probably do for a big pullback.